Connect with us

Analysis

Ethereum [ETH] v. Tron [TRX] Price Analysis: ETH struggles to make gains while TRX holds firm

Yash Rajan

Published

on

Ethereum [ETH] and Tron [TRX] Price Analysis: ETH bearish with TRX struggling between bulls and bears
Source: Pixabay


Ethereum [ETH], the market’s largest altcoin, was valued at $249.292, at press time. After climbing by 0.88% over 24 hours, ETH held a market cap of $26.52 billion and recorded a 24 hour trading volume of $9.10 billion.

Tron [TRX] had a market cap of $2.212 billion, at press time. It was valued at $0.031, dropping by 0.423% over 24 hours. The most recent report by DApp review demonstrated that in recent months, Tron has added 223 DApps to its ecosystem.

1-Day ETH

ETH confronted resistance at $271.241 and found support at $240.262. The coin recorded an uptrend from $158.844 to $265.463, and a steep downtrend from $270.701 to $251.472.

Source: TradingView

Source: TradingView

Bollinger Bands envisioned the bands gradually converging, suggesting diminishing volatility in the market.

Parabolic SAR’s dotted markers were found over the candles, indicating a bearish market trend.

MACD line was below the signal line, picturing a bearish market for ETH.

1-Day TRX

TRX saw two notable uptrends between $0.029– $0.031 and from $0.030 – $0.035. Resistance was found at $0.038, with support at $0.030. Over the course of recent weeks, TRX recorded a downtrend from $0.038 to $0.033.

Source: TradingView

Source: TradingView

Relative Strength Index demonstrated an increase in buying pressure as the coin’s indicator line was positioned at 56.091.

Chaikin Money Flow’s marker was found over the zero-line at 0.09, suggesting a growing inflow of capital into the market.

Awesome Oscillator revealed falling bullishness and market momentum.

Conclusion

ETH remained firmly bearish, while TRX was stable, despite the bears’ looming.





Subscribe to AMBCrypto’s Newsletter


Ads

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement